To require the Federal financial agencies to carry out a study and report on standardized descriptions for vendor-provided artificial intelligence systems, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To require the Federal financial agencies to carry out a study and report on standardized descriptions for vendor-provided artificial intelligence systems, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers. The main policy domain is Finance, Government Operations, Technology.
Who Benefits and How
financial institutions, investors, and borrowers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, financial institutions, investors, and borrowers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section H9B52D84E71194B10ACE456FC7E0B7970: 1. Short title This Act may be cited as the Responsible AI Disclosure Act of 2024.
- Section HBCA62DFF7E9443BE9F019079214A16F3: 2. Study and report on standardized description for vendor-provided artificial intelligence systems The heads of each covered agency may coordinate with other...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To require the Federal financial agencies to carry out a study and report on standardized descriptions for vendor-provided artificial intelligence systems, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Key Policy Areas
Finance, Government Operations, Technology
Primary Purpose
This bill, To require the Federal financial agencies to carry out a study and report on standardized descriptions for vendor-provided artificial intelligence systems, and for other purposes., changes federal law or congressional policy affecting financial institutions, investors, and borrowers.
Policy Domains
Whole bill
Identified Gains
- financial institutions, investors, and borrowers
Identified Costs
- federal implementing agencies
- financial institutions, investors, and borrowers
Sponsors
Legislative Progress
IntroducedMs. Waters introduced the following bill; which was referred to …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_commission"
- → The commission identified in the operative section
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology